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Thursday, 19 November 2015

1.04 trillion fine: “MTN must pay up in full” – Nigerian govs say as they back NCC

Governors of the 36 states of the Federation rose from their meeting early on Thursday with a clear resolution to throw their weight behind the Nigerian Communications Commissions (NCC) in its fine imposed of one of Nigeria’s telecommunication Giants, MTN to pay the $5.2 billion, (N1.04) trillion for alleged security infraction.

The Governors, who met at the Banquet Hall of the State House, Abuja under the auspices of the Nigerian Governors Forum (NGF), commended the NCC for its strict compliance and enforcement of the law in its regulation of the telecom sector, and encouraged the commission to go ahead with its strict regulatory duties without any fear or favour.
They also insisted that that the MTN must pay up in full.
NCC had imposed the levy on MTN for its failure to meet a deadline to disconnect 5.2 million unregistered subscribers earlier this year. The network operator records show has already lost about 24 per cent of their share value since the fine was made public on October 26.
Yari said that the forum after receiving a presentation from the NCC chairman congratulated him on his appointment and assured to collaborate with the commission to assisting in boosting the telecommunication industry.
“The Forum also commended the NCC for its strict compliance and enforcement of the law with regards to the fine issued to MTN and advised the Federal Government to ensure prompt and full payment” he said.
Following the fine imposed on the firm, it’s Chief Executive Officer Sifiso Dabengwa announced his resignation last week.

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